TAXES

Isle of Wight Windsor Smithfield
Real Estate .52/$100 .10/$100 .16/$100
Machine & Tool .95/$100 .10/$100 .15/$100
Personal Property 4.40/$100 .50/$100 1.00/$100
Virginia Isle of Wight
Sales & Use Tax 4% 1%

Real Estate Tax Facts:

  • Key tax collection dates:
    • March 1: business license tax due
    • May 1: deadline for filing business personal property and/or machinery and tools report to County
    • December 5 & June 5: first and second half real estate tax due
    • December 5: personal property taxes due
  • Business Tangible Personal Property is assessed annually at 40% of original cost.
  • Machinery and Tools is assessed annually at 100% of original installed cost.

  • Lodging Tax is 2%.

  • Meals Tax is 4%.

  • Utility Consumers’ Tax: commercial or industrial consumers pay 10% of the first $1,000. The tax is included in the monthly statement from the public utility company.

  • Real estate reassessment occurs every two years.

For further information please visit the Isle of Wight County Commisioner of the Revenue website.

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